Revolut negotiating with NBU to obtain banking license
The National Bank of Ukraine (NBU) is interested in the entry of the neobank Revolut into the Ukrainian market, but within the framework of legislative and regulatory requirements, so it is conducting a dialogue with it about obtaining a banking license, said Deputy Governor of the NBU Dmytro Oliynyk.
"We are conducting a dialogue with Revolut, and they have announced their intention to obtain a banking license. We are also communicating with European regulators regarding the need for their licensing to provide services to Ukrainian residents," Oliynyk said in an interview with NV Business.
According to him, the National Bank is interested in the entry of both Revolut and Wise into the Ukrainian market, but these companies work through banks in other jurisdictions, and Ukrainian consumers do not always understand the level of protection of their rights.
Oliynyk added that, according to the regulator's estimates, Ukrainians have opened approximately 100,000 accounts with Revolut.
"Therefore, the further development of such services must comply with Ukrainian legislation and regulatory framework," the NBU representative concluded.
As reported, on February 11, 2025, after a month and a half of beta testing, the British fintech Revolut officially entered the Ukrainian market on the basis of a license issued by the European Central Bank to Revolut Bank UAB (Lithuania). However, two weeks later, the National Bank of Ukraine (NBU) emphasized the need for fintech to obtain a license to operate in Ukraine, which Revolut planned to obtain later.
Revolut was founded in 2015 in the United Kingdom, its headquarters are located in London.